Bloomberg Law
Aug. 18, 2017, 8:53 PM UTC

SEC Drops Claims Against Ex-JPM Traders in London Whale Case

Bloomberg Media

By Jef Feeley, Bloomberg News

The U.S. Securities and Exchange Commission dropped claims against two former JPMorgan Chase & Co. traders accused of hiding more than $6.2 billion in trading losses as part of the “London Whale’’ case.

Securities regulators agreed to dismiss their case against traders Javier Martin-Artajo and Julien Grout after federal prosecutors dropped criminal charges against them last month.

Martin-Artajo, who oversaw trading strategy for the synthetic portfolio at the bank’s chief investment office in London, and Grout, a trader who worked for him, were accused of scheming to manipulate loss figures tied to the dealings of Bruno Iksil, fellow JP ...

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